News! Cabela's closing stores January 1st with sale to Bass Pro on Nov 9th.

[Hoover]

There's a bunch of assumptions here, with little to back it up.

Still see K-Mart stores? Guess who owns that company. Sears does.

BP might consolidate Cabela's stores, closing some, turning the rest into Bass Pro stores.

But, the clientele that shop in each are totally different. Products carried are different too.

I see a strong possibility for BP to retain Cabela's pretty much as is, with a few changes. That's what Sears did with K-Mart.

It could go either way, but I can tell you, the upper management at BP are not fools. And, eliminating Cabela's would make them less money than retaining it as a subsidiary.

Let me put it this way. If BP got rid of Cabela's, they would have one less minor competitor. If they kept it, they would reduce sales to several other competitors (like Gander Mountain, among others).

They will merge the two. Just like staples who is buying office depot. Staples will keep any office depot in locations they do not have and change them to staples all duplicates will be closed.

There is not enough of a difference between cabelas and bass pro to keep them as separate brands. Your sears and kmart analogy is off. Sears are usually at large malls, kmarts are in strip malls. And those are both stores that local people go to. Cabelas and bass pro are destination stores which are regional, not numerous.

 

[Hoover]

If they close the Cabela's in Berlin, Gander mountain or academy, etc. will probably use it as an opportunity to expand if they can get the building or lease for a good deal. If not, it will sit empty, no way they keep the two stores so close open.

 

[TheStig]

ahh man, the berlin store is like 5 min from me, guess its back to bass pro if i cant find what i need at undercover arms.

 

[Nickle]

In due time we'll see whose predictions become reality. Come back here in a year or two and revisit this thread. Meantime, watch for any super sales of stuff we can use.

My thoughts EXACTLY.

It could go either way.

And, take advantage of any sales they have.

 

[FalArAk]

OPSEC,said too much already.

 

[teaser452]

So all the stuff I bought from them with the cabellas name with the lifetime warranty....I guess that means the lifetime of the store?

Bummer. Bass pro sucks.

 

[dcmdon]

I've gone on line and looked for any info on a deal.

There is nothing official, although the company does seem to be "in play". One of the potential buyers is a private equity firm.

Don

 

[caboose84]

I've gone on line and looked for any info on a deal.

There is nothing official, although the company does seem to be "in play". One of the potential buyers is a private equity firm.

Don

The equity firm announced they had acquired ~11% of the stock in October, and has been pushing Cabela's to "explore options".

The Cabela's family had around 25% of the stock.

 

[ThePreBanMan]

So all the stuff I bought from them with the cabellas name with the lifetime warranty....I guess that means the lifetime of the store?

Bummer. Bass pro sucks.

Crap... I didn't even think of that... I have a lot of their stuff....

 

[jefftk]

well of course they won't close all stores, there'd be no point in buying the company. They might close stores that are too close to a Bass Pro.

Edit: I actually read the article, it doesn't say anything about closing stores, it's just people speculating.

Everyone is assuming Bass Pro is going to shut down stores, or change Cabela's stores to be like Bass Pro - there's no evidence of that, it's just Cabela's employees speculating (understandably).

Holy cow, lots of speculation going on in this thread too.

I read the article first, then started scrolling through the posts here of people crying about the presumed inevitable closings.... did anyone else read the article?

Somehow this:

'I don't know whether they will keep anyone, I don't know if the store will stay open or what their plans are.'

Gets turned in to a thread title of:

News! Cabela's closing stores January 1st with sale to Bass Pro on Nov 9th.

But hey, maybe I'm just missing something.

 

[jefftk]

A good comment from the article:

This is either terrible reporting or terrible information. Number one: Cabela's recieved a takeover bid from Bass Pro (private equity). This is an OFFER that Cabela's can either accept or reject. Number two: Considering the fact that it was an offer to a largely struggling Cabela's, this would most likely be a good thing for their branding. Depending on the disclosures, if they decide to accept said offer. Meaning this; does Cabela's maintain their own brand as there is considerable equity in it; or does it take the image of Bass Pro? Again, terms not disclosed because this is a "bid". There are so many unknown factors, that any talk of closure's or personnel decisions would never be disclosed to store managers or even branch managers. So, before the anti-government talk continues lets stop fear mongering. Cabela's is struggling. Personally, I would be more worried if they didn't accept any kind of takeover bid from any of their competitors.

 

[teaser452]

Let's hope ll bean gets off their ass and expands to mass.

 

[Hoover]

Let's hope ll bean gets off their ass and expands to mass.

LL Bean has a place in Dedham

 

[teaser452]

LL Bean has a place in Dedham

ok. You got me. Expand to a place outside or close to 495. F-heads in Dedham. What the hell are they hunting? Nada. Just a bunch of liberal douche nozzles who like flannel.

 

[HTRN]

Cabelas > bass pro

Having been to both, the quality and selection across all departments is better at cabelas. You may go to bass pro to check it out but you go back to cabelas.

Agreed, Bass Pro is the walmart of the two. I guess walmart and cheap crap wins out these days.

This is too bad, Cableas was once a great company.

 

[boilermaker]

So Cabelas is a publicly traded company with shareholders, who apparently haven't been notified, let alone vote, but the deal closed on Nov 9th? And the only source is a Billings Montana news station?

It may come to pass but it hasn't happened yet

 

[FalArAk]

I just got back from Cabelas and bought a bunch of their branded clothes,in case they close and I can't get them anymore.Probably spent a bit too much speculating,but hopefully I can sell them for a small profit in a year or so.

 

[yanici]

Ah, Cabela's crotchless underwear for those warm Summer evenings.

 

[ghettomedic]

ok. You got me. Expand to a place outside or close to 495. F-heads in Dedham. What the hell are they hunting? Nada. Just a bunch of liberal douche nozzles who like flannel.

There is an LL Bean in Mansfield a couple hundred yards from 495

 

[wahsben]

Dicks bought Galyans and Galyans was the better store, now Bass Pros buying Cabela's and Cabela's is the better store IMO.
The only good thing is that there will probably be some good sales coming up.

 

[Chevy 2 65]

[video=youtube_share;XpS4fCF4tqo]http://youtu.be/XpS4fCF4tqo[/video]

 

[rawlus]

http://www.snopes.com/2015/11/12/bass-pro-shops-buying-cabelas/

 

[Individualist]

Well this just made a crappy day that much more so. Damn. Love Cabelas. Just don't care for BP at all. Haven't set foot in BP since Berlin opened, and I still have $80-90 on a gift card with them.

 

[weldingmachine]

Another case for buying local & staying away from the huge retailers.
Support the little guys, or they will not exist.
I know Cabelas was a chain too, but at least they were local.

 

[JRT]

Everyone is assuming Bass Pro is going to shut down stores, or change Cabela's stores to be like Bass Pro - there's no evidence of that, it's just Cabela's employees speculating (understandably).

How dare you read the article and then attempt to derail this shit show of speculation! The nerve...


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[dragonballzz]

I almost bought cabela stock last year

 

[peterthefish]

So Cabelas is a publicly traded company with shareholders, who apparently haven't been notified, let alone vote, but the deal closed on Nov 9th? And the only source is a Billings Montana news station?

It may come to pass but it hasn't happened yet

Shareholders don't vote on things like this - they nominate a BOD to do that. Also, it's not uncommon for deals to be struck and then await due diligence and regulatory scrutiny before finalizing.

 

[Len-2A Training]

Shareholders don't vote on things like this - they nominate a BOD to do that. Also, it's not uncommon for deals to be struck and then await due diligence and regulatory scrutiny before finalizing.

Agreed. I know this one first hand as I was at the shareholder meeting where DEC ANNOUNCED that they had sold out to Compaq! My Wife and I held >1000 shares of DEC (as did many employees) and had no say in the matter. In fact the corporate security manager was sitting next to me and he was very concerned that many ex-employees would create a scene or riot when it was announced . . . and GQ Bob Palmer (corporate president at the time of the sell-out) dodged the questions about his sweetheart deal ($6Mill + tax-override for any taxes due) and that all OTHER shareholders would be taxed on the deal as if we had sold our stock on that day (our stock was swapped for Compaq stock) and that was a huge wallop I assure you.

 

[Obie1]

Agreed. I know this one first hand as I was at the shareholder meeting where DEC ANNOUNCED that they had sold out to Compaq! My Wife and I held >1000 shares of DEC (as did many employees) and had no say in the matter. In fact the corporate security manager was sitting next to me and he was very concerned that many ex-employees would create a scene or riot when it was announced . . . and GQ Bob Palmer (corporate president at the time of the sell-out) dodged the questions about his sweetheart deal ($6Mill + tax-override for any taxes due) and that all OTHER shareholders would be taxed on the deal as if we had sold our stock on that day (our stock was swapped for Compaq stock) and that was a huge wallop I assure you.

This depends on the situation and distribution of stock. Where one constituency holds a majority of the stock and wants to sell, the votes of the others don't matter. The family apparently still owns about 25% of the corporation, which is a pretty strong position. BTW, my wife also worked at DEC at the time and we owned stock.

 

[Cabinetman]

I'm not a betting man but my spidey sense says this is a done deal and it's going down as anticipated. Why? Well, Cabela's is a large operation and they must, of course, be absolutely aware of the TV report from Billings yet no one has come forward from either BPS or Cabela's with a retort. Saying nothing is sometimes louder than saying something.

Then I looked at a map of where all the Cabela's are and then where the BPS are. Looks to me that there is a satisfactory number of areas that BP has no presence, INCLUDING Billings, Montana. They are a HUGE fishing area as anyone who's been there will know. Hunting, too. The pheasants there are wild and there's a plethora of 'em. Been there and done that.

The maps clearly showed where there would be a bunch of overlap. I'm confident that the lines have already been drawn by the buyers team of planners and they already know which stores will stay and leave. We can only speculate. But I'm laying odds that I'm right and because neither BPS or Cabela's has come forward, this is a done deal and stock holders and credit card holders with points to use are getting nervous. I would.

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